The meeting will discuss planning a massive demonstration when Emergency Manager Orr makes his public presentation to the people of Detroit. The time and place of the demonstration to be announced.

Even Orr had to acknowledge that renegotiating the city’s massive debt to the banks is critical to resolving Detroit’s financial crisis. But as Emergency Manager, under the law, he is mandated to guarantee the payment of debt service to the banks,. He is in power to serve the banks and any talk of “renegotiating the debt service” by Orr is a sham to cover up his real job, to gut city services and sell off city assets on their behalf. In contrast to mandating payment of debt service, Orr is empowered under the law to break every contract that benefits Detroit’s workers and residents.

A full response to Orr’s report is attached. View other documents on how the banks caused Detroit’s crisis and continue to extort the city at detroitdebtmoratorium.org. Call 680-5508 to set up a viewing of the power point presentation on how the banks caused Detroit’s fiscal crisis.

ISDA Master Agreement

The ISDA master agreement is the most commonly used master contract for OTC derivative transactions internationally. It is used to govern many of the financial transactions between the City of Detroit and Wall Street. Below are links to the agreement and sites with explanations.